MVV Energie acquires 50.1% stake in renewable energy firm Juwi

Germany-based energy major MVV Energie has acquired 50.1% stake in Juwi, a renewable energy developer in the country.

The move is said to form a part of MVV 2020 strategic realignment launched in 2009.

Expected to be completed by the year-end, the transaction will allow both the companies to jointly expand renewable energies on an economically viable, reliable basis.

Juwi will now work on implementing its project pipeline, as well as on further marketing projects to interested investors.

MVV Energie CEO Georg Müller said: "The transformation currently underway in the German energy supply is all about combining renewable and conventional energies as key pillars of the future energy system in a way that makes both economic and ecological sense.

"Juwi will complement our own activities and acquisitions in our further growth-driven expansion in renewable energies.

"This area harbours promising opportunities for new business models, especially in the field of decentralised energy management. We are working on this closely both with partners from within the energy industry and partners from other sectors who are leaders in their respective markets."

The financial terms of the transaction are not disclosed.

Juwi has so far implemented around 770 wind turbines with a total capacity of around 1,600MW, as well as installed more than 1,500 PV systems with total capacities of around 1,400 MW.